Pet Valu (TSE:PET) Reaches New 52-Week High - Here's Why

Pet Valu Holdings Ltd. (TSE:PET - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$34.10 and last traded at C$34.00, with a volume of 24876 shares changing hands. The stock had previously closed at C$33.54.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PET shares. Stifel Nicolaus upped their price target on shares of Pet Valu from C$28.50 to C$33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. TD Securities upped their price target on shares of Pet Valu from C$32.00 to C$35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Stifel Canada upgraded shares of Pet Valu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 10th. Cormark upgraded shares of Pet Valu from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, May 7th. Finally, Desjardins upgraded shares of Pet Valu to a "moderate buy" rating in a research report on Friday, May 16th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$34.33.

Pet Valu Trading Up 0.4%

The company has a market cap of C$2.39 billion, a PE ratio of 27.76 and a beta of 0.81. The firm's fifty day moving average is C$30.71 and its 200 day moving average is C$27.24.

Pet Valu Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from Pet Valu's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. Pet Valu's payout ratio is presently 36.27%.

About Pet Valu

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.